Crude oil prices surged as OPEC indicates a deeper cut in stockpiles, and investors expect the potential Brexit deal between Britain and the Europan Union. However, gains were limited due to constant concerns of a global economic recession.
Daily Support and Resistance
S3 50.7
S2 51.92
Pivot Point 53.13
R1 53.66
R2 54.34
R3 55.55
The crude oil prices are stuck within a narrow range of 53.7 – 52.50. We may see choppy sessions if prices hold within this range; elsewhere, the violation of support 52.60 can extend bearish rally until 51.24.
Good luck!